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Disponibil în 54 limbi" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-54" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">54 limbi</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%B9%D9%82%D8%AF_%D8%A7%D8%B4%D8%AA%D9%82%D8%A7%D9%82%D9%8A" title="عقد اشتقاقي – arabă" lang="ar" hreflang="ar" data-title="عقد اشتقاقي" data-language-autonym="العربية" data-language-local-name="arabă" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Deriv%C3%A1u_financieru" title="Deriváu financieru – asturiană" lang="ast" hreflang="ast" data-title="Deriváu financieru" data-language-autonym="Asturianu" data-language-local-name="asturiană" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/T%C3%B6r%C9%99m%C9%99_Maliyy%C9%99_Al%C9%99tl%C9%99ri" title="Törəmə Maliyyə Alətləri – azeră" lang="az" hreflang="az" data-title="Törəmə Maliyyə Alətləri" data-language-autonym="Azərbaycanca" data-language-local-name="azeră" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%92%D1%8B%D1%82%D0%B2%D0%BE%D1%80%D0%BD%D1%8B_%D1%96%D0%BD%D1%81%D1%82%D1%80%D1%83%D0%BC%D0%B5%D0%BD%D1%82_(%D0%B4%D1%8D%D1%80%D1%8B%D0%B2%D0%B0%D1%82%D1%8B%D1%9E)" title="Вытворны інструмент (дэрыватыў) – belarusă" lang="be" hreflang="be" data-title="Вытворны інструмент (дэрыватыў)" data-language-autonym="Беларуская" data-language-local-name="belarusă" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%94%D0%B5%D1%80%D0%B8%D0%B2%D0%B0%D1%82_(%D1%84%D0%B8%D0%BD%D0%B0%D0%BD%D1%81%D0%B8)" title="Дериват (финанси) – bulgară" lang="bg" hreflang="bg" data-title="Дериват (финанси)" data-language-autonym="Български" data-language-local-name="bulgară" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Derivat_financer" title="Derivat financer – catalană" lang="ca" hreflang="ca" data-title="Derivat financer" data-language-autonym="Català" data-language-local-name="catalană" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Finan%C4%8Dn%C3%AD_deriv%C3%A1t" title="Finanční derivát – cehă" lang="cs" hreflang="cs" data-title="Finanční derivát" data-language-autonym="Čeština" data-language-local-name="cehă" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Derivat_(finansiering)" title="Derivat (finansiering) – daneză" lang="da" hreflang="da" data-title="Derivat (finansiering)" data-language-autonym="Dansk" data-language-local-name="daneză" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Derivat_(Wirtschaft)" title="Derivat (Wirtschaft) – germană" lang="de" hreflang="de" data-title="Derivat (Wirtschaft)" data-language-autonym="Deutsch" data-language-local-name="germană" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%A0%CE%B1%CF%81%CE%AC%CE%B3%CF%89%CE%B3%CE%BF_%CF%80%CF%81%CE%BF%CF%8A%CF%8C%CE%BD" title="Παράγωγο προϊόν – greacă" lang="el" hreflang="el" data-title="Παράγωγο προϊόν" data-language-autonym="Ελληνικά" data-language-local-name="greacă" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-en mw-list-item"><a href="https://en.wikipedia.org/wiki/Derivative_(finance)" title="Derivative (finance) – engleză" lang="en" hreflang="en" data-title="Derivative (finance)" data-language-autonym="English" data-language-local-name="engleză" class="interlanguage-link-target"><span>English</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Deriva%C4%B5o_(ekonomio)" title="Derivaĵo (ekonomio) – esperanto" lang="eo" hreflang="eo" data-title="Derivaĵo (ekonomio)" data-language-autonym="Esperanto" data-language-local-name="esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Derivado_financiero" title="Derivado financiero – spaniolă" lang="es" hreflang="es" data-title="Derivado financiero" data-language-autonym="Español" data-language-local-name="spaniolă" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Tuletisinstrument" title="Tuletisinstrument – estonă" lang="et" hreflang="et" data-title="Tuletisinstrument" data-language-autonym="Eesti" data-language-local-name="estonă" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Deribatu_(finantza)" title="Deribatu (finantza) – bască" lang="eu" hreflang="eu" data-title="Deribatu (finantza)" data-language-autonym="Euskara" data-language-local-name="bască" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A7%D8%A8%D8%B2%D8%A7%D8%B1_%D9%85%D8%B4%D8%AA%D9%82%D9%87" title="ابزار مشتقه – persană" lang="fa" hreflang="fa" data-title="ابزار مشتقه" data-language-autonym="فارسی" data-language-local-name="persană" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Johdannainen" title="Johdannainen – finlandeză" lang="fi" hreflang="fi" data-title="Johdannainen" data-language-autonym="Suomi" data-language-local-name="finlandeză" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Produit_d%C3%A9riv%C3%A9_financier" title="Produit dérivé financier – franceză" lang="fr" hreflang="fr" data-title="Produit dérivé financier" data-language-autonym="Français" data-language-local-name="franceză" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%A0%D7%92%D7%96%D7%A8%D7%99%D7%9D" title="נגזרים – ebraică" lang="he" hreflang="he" data-title="נגזרים" data-language-autonym="עברית" data-language-local-name="ebraică" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B5%E0%A5%8D%E0%A4%AF%E0%A5%81%E0%A4%A4%E0%A5%8D%E0%A4%AA%E0%A4%BE%E0%A4%A6%E0%A4%A8_(%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4)" title="व्युत्पादन (वित्त) – hindi" lang="hi" hreflang="hi" data-title="व्युत्पादन (वित्त)" data-language-autonym="हिन्दी" data-language-local-name="hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Izvedenica_(financije)" title="Izvedenica (financije) – croată" lang="hr" hreflang="hr" data-title="Izvedenica (financije)" data-language-autonym="Hrvatski" data-language-local-name="croată" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Sz%C3%A1rmaztatott_%C3%BCgylet" title="Származtatott ügylet – maghiară" lang="hu" hreflang="hu" data-title="Származtatott ügylet" data-language-autonym="Magyar" data-language-local-name="maghiară" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B1%D5%AE%D5%A1%D5%B6%D6%81%D5%B5%D5%A1%D5%AC_%D5%A3%D5%B8%D6%80%D5%AE%D5%AB%D6%84%D5%B6%D5%A5%D6%80" title="Ածանցյալ գործիքներ – armeană" lang="hy" hreflang="hy" data-title="Ածանցյալ գործիքներ" data-language-autonym="Հայերեն" data-language-local-name="armeană" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Derivatif" title="Derivatif – indoneziană" lang="id" hreflang="id" data-title="Derivatif" data-language-autonym="Bahasa Indonesia" data-language-local-name="indoneziană" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Aflei%C3%B0a_(fj%C3%A1rm%C3%A1l)" title="Afleiða (fjármál) – islandeză" lang="is" hreflang="is" data-title="Afleiða (fjármál)" data-language-autonym="Íslenska" data-language-local-name="islandeză" class="interlanguage-link-target"><span>Íslenska</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Strumento_derivato" title="Strumento derivato – italiană" lang="it" hreflang="it" data-title="Strumento derivato" data-language-autonym="Italiano" data-language-local-name="italiană" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%83%87%E3%83%AA%E3%83%90%E3%83%86%E3%82%A3%E3%83%96" title="デリバティブ – japoneză" lang="ja" hreflang="ja" data-title="デリバティブ" data-language-autonym="日本語" data-language-local-name="japoneză" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%A2%D1%83%D1%8B%D0%BD%D0%B4%D1%8B_%D2%9B%D0%B0%D1%80%D0%B6%D1%8B_%D2%9B%D2%B1%D1%80%D0%B0%D0%BB%D0%B4%D0%B0%D1%80%D1%8B" title="Туынды қаржы құралдары – kazahă" lang="kk" hreflang="kk" data-title="Туынды қаржы құралдары" data-language-autonym="Қазақша" data-language-local-name="kazahă" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%89%E0%B2%A4%E0%B3%8D%E0%B2%AA%E0%B2%A8%E0%B3%8D%E0%B2%A8_(%E0%B2%B9%E0%B2%A3%E0%B2%95%E0%B2%BE%E0%B2%B8%E0%B3%81)" title="ಉತ್ಪನ್ನ (ಹಣಕಾಸು) – kannada" lang="kn" hreflang="kn" data-title="ಉತ್ಪನ್ನ (ಹಣಕಾಸು)" data-language-autonym="ಕನ್ನಡ" data-language-local-name="kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%ED%8C%8C%EC%83%9D%EC%83%81%ED%92%88" title="파생상품 – coreeană" lang="ko" hreflang="ko" data-title="파생상품" data-language-autonym="한국어" data-language-local-name="coreeană" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-ky mw-list-item"><a href="https://ky.wikipedia.org/wiki/%D0%94%D0%B5%D1%80%D0%B8%D0%B2%D0%B0%D1%82%D0%B8%D0%B2" title="Дериватив – kârgâză" lang="ky" hreflang="ky" data-title="Дериватив" data-language-autonym="Кыргызча" data-language-local-name="kârgâză" class="interlanguage-link-target"><span>Кыргызча</span></a></li><li class="interlanguage-link interwiki-la mw-list-item"><a href="https://la.wikipedia.org/wiki/Negotium_derivatum" title="Negotium derivatum – latină" lang="la" hreflang="la" data-title="Negotium derivatum" data-language-autonym="Latina" data-language-local-name="latină" class="interlanguage-link-target"><span>Latina</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/I%C5%A1vestin%C4%97_finansin%C4%97_priemon%C4%97" title="Išvestinė finansinė priemonė – lituaniană" lang="lt" hreflang="lt" data-title="Išvestinė finansinė priemonė" data-language-autonym="Lietuvių" data-language-local-name="lituaniană" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Atvasin%C4%81tie_finan%C5%A1u_instrumenti" title="Atvasinātie finanšu instrumenti – letonă" lang="lv" hreflang="lv" data-title="Atvasinātie finanšu instrumenti" data-language-autonym="Latviešu" data-language-local-name="letonă" class="interlanguage-link-target"><span>Latviešu</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%A4%D0%B8%D0%BD%D0%B0%D0%BD%D1%81%D0%B8%D1%81%D0%BA%D0%B8_%D0%B4%D0%B5%D1%80%D0%B8%D0%B2%D0%B0%D1%82" title="Финансиски дериват – macedoneană" lang="mk" hreflang="mk" data-title="Финансиски дериват" data-language-autonym="Македонски" data-language-local-name="macedoneană" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-nds mw-list-item"><a href="https://nds.wikipedia.org/wiki/Derivat_(Weertschop)" title="Derivat (Weertschop) – germana de jos" lang="nds" hreflang="nds" data-title="Derivat (Weertschop)" data-language-autonym="Plattdüütsch" data-language-local-name="germana de jos" class="interlanguage-link-target"><span>Plattdüütsch</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Financieel_derivaat" title="Financieel derivaat – neerlandeză" lang="nl" hreflang="nl" data-title="Financieel derivaat" data-language-autonym="Nederlands" data-language-local-name="neerlandeză" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Derivat_(finans)" title="Derivat (finans) – norvegiană bokmål" lang="nb" hreflang="nb" data-title="Derivat (finans)" data-language-autonym="Norsk bokmål" data-language-local-name="norvegiană bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Instrument_pochodny" title="Instrument pochodny – poloneză" lang="pl" hreflang="pl" data-title="Instrument pochodny" data-language-autonym="Polski" data-language-local-name="poloneză" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Derivativo" title="Derivativo – portugheză" lang="pt" hreflang="pt" data-title="Derivativo" data-language-autonym="Português" data-language-local-name="portugheză" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9F%D1%80%D0%BE%D0%B8%D0%B7%D0%B2%D0%BE%D0%B4%D0%BD%D1%8B%D0%B9_%D1%84%D0%B8%D0%BD%D0%B0%D0%BD%D1%81%D0%BE%D0%B2%D1%8B%D0%B9_%D0%B8%D0%BD%D1%81%D1%82%D1%80%D1%83%D0%BC%D0%B5%D0%BD%D1%82" title="Производный финансовый инструмент – rusă" lang="ru" hreflang="ru" data-title="Производный финансовый инструмент" data-language-autonym="Русский" data-language-local-name="rusă" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Derivative_(finance)" title="Derivative (finance) – Simple English" lang="en-simple" hreflang="en-simple" data-title="Derivative (finance)" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Deriv%C3%A1t_(financie)" title="Derivát (financie) – slovacă" lang="sk" hreflang="sk" data-title="Derivát (financie)" data-language-autonym="Slovenčina" data-language-local-name="slovacă" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Izvedeni_finan%C4%8Dni_instrument" title="Izvedeni finančni instrument – slovenă" lang="sl" hreflang="sl" data-title="Izvedeni finančni instrument" data-language-autonym="Slovenščina" data-language-local-name="slovenă" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Derivatinstrument" title="Derivatinstrument – suedeză" lang="sv" hreflang="sv" data-title="Derivatinstrument" data-language-autonym="Svenska" data-language-local-name="suedeză" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%95%E0%B8%A3%E0%B8%B2%E0%B8%AA%E0%B8%B2%E0%B8%A3%E0%B8%AD%E0%B8%99%E0%B8%B8%E0%B8%9E%E0%B8%B1%E0%B8%99%E0%B8%98%E0%B9%8C" title="ตราสารอนุพันธ์ – thailandeză" lang="th" hreflang="th" data-title="ตราสารอนุพันธ์" data-language-autonym="ไทย" data-language-local-name="thailandeză" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/T%C3%BCrev_(finans)" title="Türev (finans) – turcă" lang="tr" hreflang="tr" data-title="Türev (finans)" data-language-autonym="Türkçe" data-language-local-name="turcă" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-tt mw-list-item"><a href="https://tt.wikipedia.org/wiki/%C3%87%C4%B1%C4%9Far%C4%B1lma_finans_qoral%C4%B1" title="Çığarılma finans qoralı – tătară" lang="tt" hreflang="tt" data-title="Çığarılma finans qoralı" data-language-autonym="Татарча / tatarça" data-language-local-name="tătară" class="interlanguage-link-target"><span>Татарча / tatarça</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a 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class="vector-menu-content-list"> <li id="t-whatlinkshere" class="mw-list-item"><a href="/wiki/Special:Ce_se_leag%C4%83_aici/Instrumente_financiare_derivate" title="Lista tuturor paginilor wiki care conduc spre această pagină [j]" accesskey="j"><span>Ce trimite aici</span></a></li><li id="t-recentchangeslinked" class="mw-list-item"><a href="/wiki/Special:Modific%C4%83ri_corelate/Instrumente_financiare_derivate" rel="nofollow" title="Schimbări recente în legătură cu această pagină [k]" accesskey="k"><span>Schimbări corelate</span></a></li><li id="t-upload" class="mw-list-item"><a href="//ro.wikipedia.org/wiki/Wikipedia:Trimite_fișier" title="Încărcare fișiere [u]" accesskey="u"><span>Trimite fișier</span></a></li><li id="t-permalink" class="mw-list-item"><a href="/w/index.php?title=Instrumente_financiare_derivate&oldid=16769230" title="Legătură permanentă către această versiune a acestei pagini"><span>Legătură permanentă</span></a></li><li id="t-info" class="mw-list-item"><a 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class="vector-menu-heading"> Tipărire/exportare </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="coll-create_a_book" class="mw-list-item"><a href="/w/index.php?title=Special:Carte&bookcmd=book_creator&referer=Instrumente+financiare+derivate"><span>Creare carte</span></a></li><li id="coll-download-as-rl" class="mw-list-item"><a href="/w/index.php?title=Special:DownloadAsPdf&page=Instrumente_financiare_derivate&action=show-download-screen"><span>Descărcare ca PDF</span></a></li><li id="t-print" class="mw-list-item"><a href="/w/index.php?title=Instrumente_financiare_derivate&printable=yes" title="Versiunea de tipărit a acestei pagini [p]" accesskey="p"><span>Versiune de tipărit</span></a></li> </ul> </div> </div> <div id="p-wikibase-otherprojects" class="vector-menu mw-portlet mw-portlet-wikibase-otherprojects" > <div class="vector-menu-heading"> În alte proiecte </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="wb-otherproject-link wb-otherproject-commons mw-list-item"><a href="https://commons.wikimedia.org/wiki/Category:Derivatives_(finance)" hreflang="en"><span>Wikimedia Commons</span></a></li><li id="t-wikibase" class="wb-otherproject-link wb-otherproject-wikibase-dataitem mw-list-item"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q66295" title="Legătură către elementul asociat din depozitul de date [g]" accesskey="g"><span>Element Wikidata</span></a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> </div> </div> </div> <div class="vector-column-end"> <div class="vector-sticky-pinned-container"> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-pinned-container" class="vector-pinned-container"> </div> </nav> <nav class="vector-appearance-landmark" aria-label="Aspect"> <div id="vector-appearance-pinned-container" class="vector-pinned-container"> <div id="vector-appearance" class="vector-appearance vector-pinnable-element"> <div class="vector-pinnable-header vector-appearance-pinnable-header vector-pinnable-header-pinned" data-feature-name="appearance-pinned" data-pinnable-element-id="vector-appearance" data-pinned-container-id="vector-appearance-pinned-container" data-unpinned-container-id="vector-appearance-unpinned-container" > <div class="vector-pinnable-header-label">Aspect</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-appearance.pin">mută în bara laterală</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-appearance.unpin">ascunde</button> </div> </div> </div> </nav> </div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">De la Wikipedia, enciclopedia liberă</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="ro" dir="ltr"><p><b>Instrumentele financiare derivate</b> sunt instrumente financiare a căror valoare depinde de sau <b>derivă</b> din valoarea altui activ<sup id="cite_ref-Norma10_1-0" class="reference"><a href="#cite_note-Norma10-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> (numit <i>activ de bază</i> sau <i>activ suport</i>). Ele sunt utilizate atât în scopuri speculative, cât și drept mijloc de acoperire a unor riscuri nedorite. Cele mai obișnuite instrumente financiare derivate sunt opțiuni, <a href="/wiki/Contract_futures" title="Contract futures">futures</a>, forward swap, precum și diferite variații ale acestora. Instrumentele financiare derivate pot fi tranzacționate pe piețe specializate organizate (<a href="/wiki/Burs%C4%83" title="Bursă">burse</a>) sau pe piețe extrabursiere (over-the-counter, „piață la ghișeu”). Instrumentele financiare derivate în scopuri speculative trebuie evitate atât la nivel individual, cât și pentru că sunt dăunătoare economiei reale. </p><p>Piața instrumentelor financiare derivate este printre cele mai mari în domeniul tranzacțiilor financiare, fiind unul dintre elementele definitorii ale acesteia. Din punctul de vedere al instrumentelor financiare, derivatele reprezintă cea mai mare piață, doar după <a href="/wiki/Valut%C4%83" title="Valută">valută</a>.<sup id="cite_ref-Hurduzeu1_2-0" class="reference"><a href="#cite_note-Hurduzeu1-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Noțiuni_de_bază"><span id="No.C8.9Biuni_de_baz.C4.83"></span>Noțiuni de bază</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Instrumente_financiare_derivate&veaction=edit&section=1" title="Modifică secțiunea: Noțiuni de bază" class="mw-editsection-visualeditor"><span>modificare</span></a><span class="mw-editsection-divider"> | </span><a href="/w/index.php?title=Instrumente_financiare_derivate&action=edit&section=1" title="Edit section's source code: Noțiuni de bază"><span>modificare sursă</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/w/index.php?title=Asocia%C8%9Bia_Interna%C8%9Bional%C4%83_pentru_Swapuri_%C8%99i_Derivative&action=edit&redlink=1" class="new" title="Asociația Internațională pentru Swapuri și Derivative — pagină inexistentă">Asociația Internațională pentru Swapuri și Derivative</a> (<a href="https://en.wikipedia.org/wiki/International_Swaps_and_Derivatives_Association" class="extiw" title="en:International Swaps and Derivatives Association">en</a>) definește instrumentele financiare derivate drept contracte de transfer al unui risc, a căror valoare depinde de valoarea unui activ de bază. Potrivit <a href="/wiki/International_Accounting_Standards_Board" title="International Accounting Standards Board">Consiliului pentru Standardele Internaționale de Contabilitate</a>, un instrument derivat este un instrument financiar care îndeplinește simultan următoarele condiții: </p> <ol><li>valoarea sa depinde de valoarea unui activ de bază;</li> <li>nu necesită o investiție netă inițială sau presupune o investiție inițială mai mică decât cea necesară pentru alte active cu răspuns similar la modificările pieței;</li> <li>este decontat la o dată ulterioară.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup></li></ol> <p>Activul de bază poate fi o <a href="/wiki/Bun_economic" title="Bun economic">marfă</a>, o <a href="/wiki/Ac%C8%9Biune_(economie)" title="Acțiune (economie)">acțiune</a>, o <a href="/wiki/Obliga%C8%9Biune" title="Obligațiune">obligațiune</a>, o <a href="/wiki/Dob%C3%A2nd%C4%83" title="Dobândă">rată a dobânzii</a>, un <a href="/wiki/Indice_bursier" title="Indice bursier">indice bursier</a>, o <a href="/wiki/Valut%C4%83" title="Valută">deviză</a> sau oricare alt instrument tranzacționabil.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Prețul"><span id="Pre.C8.9Bul"></span>Prețul</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Instrumente_financiare_derivate&veaction=edit&section=2" title="Modifică secțiunea: Prețul" class="mw-editsection-visualeditor"><span>modificare</span></a><span class="mw-editsection-divider"> | </span><a href="/w/index.php?title=Instrumente_financiare_derivate&action=edit&section=2" title="Edit section's source code: Prețul"><span>modificare sursă</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Instrumentele financiare derivate fluctuează în tandem cu activul de bază. </p> <div class="mw-heading mw-heading2"><h2 id="Tipuri">Tipuri</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Instrumente_financiare_derivate&veaction=edit&section=3" title="Modifică secțiunea: Tipuri" class="mw-editsection-visualeditor"><span>modificare</span></a><span class="mw-editsection-divider"> | </span><a href="/w/index.php?title=Instrumente_financiare_derivate&action=edit&section=3" title="Edit section's source code: Tipuri"><span>modificare sursă</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Acorduri derivate pot fi fie «extrabursiere», fie bursiere.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> În primul caz parametrii, precum și prezența sau absența unor margin-call sunt coordonate în mod liber de către părțile implicate (de regulă, cel puțin una dintre părți este o organizație financiară), fără careva standardizare a contractelor. În cel de-al doilea caz — acorduri bursiere — parametrii contractului sunt standardizate de către bursa, la care instrumentele sunt comercializate, cu un margin-call obligatoriu. În plus, în acest caz bursa este mereu una dintre părțile participante la tratative, care răspunde de reglementarea tuturor operațiunilor. La fel este posibil de vinde prin intermediul CFD (contract de diferență). Acest tip de contract asigură o importantă pârghie financiară, deoarece la începutul operațiunii este cerută o mică achitare cash sau în general nu este cerută.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Tipuri_de_bază"><span id="Tipuri_de_baz.C4.83"></span>Tipuri de bază</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Instrumente_financiare_derivate&veaction=edit&section=4" title="Modifică secțiunea: Tipuri de bază" class="mw-editsection-visualeditor"><span>modificare</span></a><span class="mw-editsection-divider"> | </span><a href="/w/index.php?title=Instrumente_financiare_derivate&action=edit&section=4" title="Edit section's source code: Tipuri de bază"><span>modificare sursă</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Forward – cumpărătorul și vânzătorul se angajează de a achiziționa sau de a vinde în viitor o anumită cantitate de mărfuri (marfă sau activ financiar) la preț indicat la data stipulării contractului.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>Futures — contract conform căruia vânzarea-cumpărarea activului este fixată la preț indicat cu dată viitoare.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>Opțiuni — contract ce oferă vânzătorilor sau cumpărătorilor dreptul, dar nu și obligațiunea de a achiziționa sau de a vinde respectivul activ în viitor (data de expirare a opțiunii) la preț concordat preventiv (preț de realizare a opțiunii cu denumirea de strike).<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>Swap — contract ce determină fluxul de achitări între părți la date diferite în viitor.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Importanță"><span id="Importan.C8.9B.C4.83"></span>Importanță</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Instrumente_financiare_derivate&veaction=edit&section=5" title="Modifică secțiunea: Importanță" class="mw-editsection-visualeditor"><span>modificare</span></a><span class="mw-editsection-divider"> | </span><a href="/w/index.php?title=Instrumente_financiare_derivate&action=edit&section=5" title="Edit section's source code: Importanță"><span>modificare sursă</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>În prezent, instrumentele financiare derivate reprezintă al doilea cel mai utilizat tip de instrumente financiare la nivel internațional, doar după <a href="/wiki/Valut%C4%83" title="Valută">valută</a>. Conform <a href="/wiki/Banca_Reglementelor_Interna%C8%9Bionale" title="Banca Reglementelor Internaționale">Băncii Reglementelor Internaționale</a>, în <a href="/wiki/2015" title="2015">2015</a>, <a href="/w/index.php?title=Valoare_no%C8%9Bional%C4%83&action=edit&redlink=1" class="new" title="Valoare noțională — pagină inexistentă">valoarea noțională</a> a tuturor <a href="/wiki/Contract" title="Contract">contractelor</a> financiare derivate aflate în derulare a fost de 493 de trilioane de <a href="/wiki/Dolar" title="Dolar">dolari</a>. <a href="/wiki/Valoare_de_pia%C8%9B%C4%83" title="Valoare de piață">valoarea de piață</a> a fost de 14,5 trilioane de dolari.<sup id="cite_ref-Hurduzeu1_2-1" class="reference"><a href="#cite_note-Hurduzeu1-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Referințe"><span id="Referin.C8.9Be"></span>Referințe</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Instrumente_financiare_derivate&veaction=edit&section=6" title="Modifică secțiunea: Referințe" class="mw-editsection-visualeditor"><span>modificare</span></a><span class="mw-editsection-divider"> | </span><a href="/w/index.php?title=Instrumente_financiare_derivate&action=edit&section=6" title="Edit section's source code: Referințe"><span>modificare sursă</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="references-small columns references-column-count references-column-count-2" style="-moz-column-count: 2; -webkit-column-count: 2; column-count: 2; list-style-type: decimal;"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-Norma10-1"><b><a href="#cite_ref-Norma10_1-0">^</a></b> <span class="reference-text">Normă privind instrumentele financiare derivate, nr. 10 din 1 iulie 2002, Monitorul Oficial, Partea I 610 16 august 2002, Intrare în vigoare la 16 august 2002</span> </li> <li id="cite_note-Hurduzeu1-2">^ <a href="#cite_ref-Hurduzeu1_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Hurduzeu1_2-1"><sup><i><b>b</b></i></sup></a> <span class="reference-text">Hurduzeu; Nicolescu, p. 305</span> </li> <li id="cite_note-3"><b><a href="#cite_ref-3">^</a></b> <span class="reference-text">Standardul Internațional de Contabilitate nr. 39 (IAS 39) - Instrumente financiare: recunoaștere și evaluare</span> </li> <li id="cite_note-4"><b><a href="#cite_ref-4">^</a></b> <span class="reference-text"><cite class="citation web"><a rel="nofollow" class="external text" href="https://www.investopedia.com/terms/d/derivative.asp">„Derivative Definition”</a>. <i>investopedia.com</i><span class="reference-accessdate">. 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Accesat în <time datetime="2022-03-15">15 martie 2022</time></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=agecon.unl.edu&rft.atitle=Who+Is+Trading+in+the+Futures+Markets+and+Why+It+Matters&rft_id=https%3A%2F%2Fagecon.unl.edu%2Fcornhusker-economics%2F2016%2Fwho-is-trading-futures-markets-why-it-matters-part-1&rfr_id=info%3Asid%2Fro.wikipedia.org%3AInstrumente+financiare+derivate" class="Z3988"><span style="display:none;"> </span></span><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r16236537"></span> </li> <li id="cite_note-9"><b><a href="#cite_ref-9">^</a></b> <span class="reference-text"><cite class="citation web"><a rel="nofollow" class="external text" href="https://www.investopedia.com/terms/o/option.asp">„What is an option?”</a>. <i>investopedia.com</i><span class="reference-accessdate">. Accesat în <time datetime="2022-03-15">15 martie 2022</time></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=investopedia.com&rft.atitle=What+is+an+option%3F&rft_id=https%3A%2F%2Fwww.investopedia.com%2Fterms%2Fo%2Foption.asp&rfr_id=info%3Asid%2Fro.wikipedia.org%3AInstrumente+financiare+derivate" class="Z3988"><span style="display:none;"> </span></span><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r16236537"></span> </li> <li id="cite_note-10"><b><a href="#cite_ref-10">^</a></b> <span class="reference-text"><cite class="citation web"><a rel="nofollow" class="external text" href="https://money.cnn.com/2005/09/22/markets/credit_derivatives/index.htm">„Regulators are looking at the vastly complicated, fast-growing world of credit derivatives”</a>. <i>money.cnn.com</i><span class="reference-accessdate">. Accesat în <time datetime="2022-03-15">15 martie 2022</time></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=money.cnn.com&rft.atitle=Regulators+are+looking+at+the+vastly+complicated%2C+fast-growing+world+of+credit+derivatives&rft_id=https%3A%2F%2Fmoney.cnn.com%2F2005%2F09%2F22%2Fmarkets%2Fcredit_derivatives%2Findex.htm&rfr_id=info%3Asid%2Fro.wikipedia.org%3AInstrumente+financiare+derivate" class="Z3988"><span style="display:none;"> </span></span><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r16236537"></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Bibliografie">Bibliografie</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Instrumente_financiare_derivate&veaction=edit&section=7" title="Modifică secțiunea: Bibliografie" class="mw-editsection-visualeditor"><span>modificare</span></a><span class="mw-editsection-divider"> | </span><a href="/w/index.php?title=Instrumente_financiare_derivate&action=edit&section=7" title="Edit section's source code: Bibliografie"><span>modificare sursă</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/w/index.php?title=Gheorghe_Hurudzeu&action=edit&redlink=1" class="new" title="Gheorghe Hurudzeu — pagină inexistentă">Hurduzeu, Gh</a>; Nicolescu, L; <i>Relații economice internaționale: teorii, strategii, politici, instrumente și studii de caz</i>, editura <a href="/wiki/Academia_de_Studii_Economice" class="mw-redirect" title="Academia de Studii Economice">Academiei de Studii Economice</a>, <a href="/wiki/Bucure%C8%99ti" title="București">București</a>, <a href="/wiki/2017" title="2017">2017</a>.</li></ul>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?useformat=desktop&type=1x1&usesul3=0" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Adus de la <a dir="ltr" href="https://ro.wikipedia.org/w/index.php?title=Instrumente_financiare_derivate&oldid=16769230">https://ro.wikipedia.org/w/index.php?title=Instrumente_financiare_derivate&oldid=16769230</a></div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Special:Categorii" title="Special:Categorii">Categorii</a>: <ul><li><a href="/wiki/Categorie:Finan%C8%9Be" title="Categorie:Finanțe">Finanțe</a></li><li><a href="/wiki/Categorie:Instrumente_financiare_derivate" title="Categorie:Instrumente financiare derivate">Instrumente financiare derivate</a></li></ul></div><div id="mw-hidden-catlinks" class="mw-hidden-catlinks mw-hidden-cats-hidden">Categorie ascunsă: <ul><li><a href="/wiki/Categorie:Pagini_cu_note_pe_2_coloane" title="Categorie:Pagini cu note pe 2 coloane">Pagini cu note pe 2 coloane</a></li></ul></div></div> </div> </main> </div> <div class="mw-footer-container"> <footer id="footer" class="mw-footer" > <ul id="footer-info"> <li id="footer-info-lastmod"> Ultima editare a paginii a fost efectuată la 19 ianuarie 2025, ora 23:45.</li> <li id="footer-info-copyright">Acest text este disponibil sub licența <a rel="nofollow" class="external text" href="https://creativecommons.org/licenses/by-sa/4.0/deed.ro">Creative Commons cu atribuire și distribuire în condiții identice</a>; pot exista și clauze suplimentare. 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